About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
You can slowly build up spices over six to nine months by adding ajwain, jeera, coriander, cardamom and cinnamon powders for flavouring different recipes, says Madhavi Bhardwaj.
'As the Budget has taken some measures to spur growth, similar action from the MPC may be expected.'
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
Defence Minister Rajnath Singh lauded 'Operation Sindoor' as a prime example of tri-services synergy, emphasizing Pakistan's ongoing recovery from the operation's impact. He highlighted the need for coordinated defense strategies and civil-military fusion to address modern security challenges.
India, or at least Indian economy, seems to be shining bright like never before.
India is projected to grow at 6.4 per cent in fiscal year 2025 and 2026, and the country's stable growth is driven by a reform momentum supporting robust consumption growth and a push for public investment, the International Monetary Fund has said. The IMF released its World Economic Outlook (WEO) Update on Tuesday.
'The retail business was somewhat slow initially, but it has picked up over the past seven to eight days. Following Makar Sankranti, there is a renewed sense of positivity.'
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'
Indian manufacturing sector witnessed the fastest improvement in operating conditions in over 17 years in August, driven by an increased production efficiency and healthy demand conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from 59.1 in July to 59.3 in August, indicating the fastest improvement in operating conditions for 17-and-a-half years.
Latest GDP growth numbers a one-off development and not the beginning of a trend, says CEA V Anantha Nageswaran.
Analysts expect Nifty to rise up by to 6 per cent in six months, with intermittent corrections likely due to global factors.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
The Reserve Bank on Thursday marginally revised upwards the economic growth projection for the current fiscal to 6.5 per cent, from its earlier estimate of 6.4 per cent. Unveiling the first bi-monthly monetary policy of 2023-24 fiscal, RBI Governor Shaktikanta Das said the GDP growth in the first quarter of 2023-24 is expected at 7.8 per cent.
S&P Global Ratings on Thursday said the hostilities between India and Pakistan heighten risks to the credit metrics of both countries, and any escalation in clashes would put downward pressure on sovereign credit support.
